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Lane
Lane , JD, CFP, MBA, CRPS
Category: Finance
Satisfied Customers: 9215
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
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What lenders would you recommend for a home equity loan..

Resolved Question:

What lenders would you recommend for a home equity loan.. I don't want to refi since i have a 3.125% mortgage but need to pull 1/2 of my equity out on my house in Show low AZ ...

need $15-30k for down payment on a business opportunity (buying a appliance store)
home value $120k
mortgage balance $45k
avail cash > slim to none
Submitted: 2 years ago.
Category: Finance
Expert:  Lane replied 2 years ago.

Lane :

Hi,

Lane :

I would start by looking at COMMUNITY banks, those smaller independent banks in your community, where (especially as a new business owner) you can actually sit down with someone that you can start a relationship with (who might actually steer some business back YOUR way)

Lane :

You might start by looking at the community bankers association, and see who's a member in your area

Lane :

Hang on a sec and let me check something for you (but again, criteria no. 1 i my opinion is someone that will provide accountability and continuity - and you just don't get that with the big banks)

Lane :

... looks like th Arizona Bankers association is actually one of the newest member os the Nation assoc

Lane :

Here's the AZ listing: http://www.azbankers.org/members/

Lane :

I would start here: https://www.greatwesternbank.com/

Lane :

Also here's a great page for looking at the various lenders and their rates This one is for banks and mortgage co's doing business in AZ, and is specific to Mortgage rates generally - also has user ratings for each company): http://www.zillow.com/mortgage-rates/az/

Lane :

Here's the one that seems to have the best reviews and does especially well in ease of dong business (but the tradeoff is that there's none of that local business networking): http://www.zillow.com/mortgage/BorrowerQuoteDetail.htm?quote=ZQ-PYVXBFBZ

Lane :

Questions?

Lane :

I still don't see you coming into the chat here ... I'll move us to the "Q&A" mode ... Maybe that will help

Lane :

(We can still continue a dialogue there, just not in real-time as we can here in Live Answer ... Let me know if you have any questions at all)

Lane :

Lane

Lane :

If this HAS helped, I would appreciate a feedback rating of 3 (OK) or better … That's the only way they will pay us here.


HOWEVER, if you need more on this, PLEASE COME BACK here, so you won't be charged for another question.

Lane and 2 other Finance Specialists are ready to help you
Expert:  Lane replied 2 years ago.

Hi Mike,

... just checking back in, as I never saw you come int the chat.

Again, let me know if have any questions at all, or want to discuss further.

Lane
Expert:  Lane replied 2 years ago.


Thanks much, Mike.

Good luck with the new venture!.

If I can help again, let me know.

Just say "For Lane Only," at the beginning of any other questions, if you'd like.

Thanks again,
Lane